Canadian investors holding specified foreign property with an aggregate adjusted cost base (ACB) of more than CAD$100,000 at any point during a tax year are required to complete Form T1135 (Foreign Income Verification Statement).  The T1135 is filed along with your personal (T1) or corporate (T2) tax return. The CAD$100,000 threshold is based on the […]

The Canada Revenue Agency has announced that the tax filing deadline for submitting 2014 tax returns has been extended to midnight on Tuesday, May 5, 2015: On April 24, the CRA issued a communication to some Canadians that referred to an incorrect filing deadline for 2014 tax returns of May 5, 2015, rather than April […]

SimpleTax is a web-based tax software application that allows Canadian taxpayers to complete and submit tax returns online.  It’s one of the few tax software packages that’s offered for free (it has a “pay what you want” pricing policy).  It’s fairly easy to use and doesn’t take long to sign up.  Since it’s web-based, you […]

The Canada Revenue Agency provides individual taxpayers with online access to certain tax information slips.  This can be helpful for reconciling your own records.  The tax information slips are not complete as only a limited subset of tax slips are provided.  To access your available tax slips online, first log in to the CRA web […]

AdjustedCostBase.ca now offers a streamlined method for importing phantom distribution and return of capital transactions for many exchange traded funds (ETF’s), publicly traded mutual funds, income trusts and real estate investment trusts (REITs).  Learn more about this feature. When you own exchange traded funds (ETF’s), trusts, or other kinds of publicly traded funds, your brokerage […]